The Broome County Land Bank Corp. is going after a share of $20 million in new state funding designed to help communities fight blight.

Funds have been made available through the attorney general’s Community Revitalization Grant program. Applications for this second round of competitive funding are due Sept. 19.

Stacey Duncan, executive director of the Broome County Land Bank Corp., said the land bank is looking at an application in the $1-3 million range.

“Getting the maximum award would be terrific, but more importantly is knowing we’re developing a proposal that has very specific, positive outcomes for a specific community,” she said.

Land banks are not-for-profit, public benefit corporations authorized to take control of and redevelop vacant or abandoned properties to serve the public interest. Ten were authorized in New York state under legislation signed by Gov. Andrew Cuomo in 2011.

Land banks do not receive dedicated state funds, instead relying on grants and partnerships. Last year, $13 million was set aside by Attorney General Eric Schneiderman to help fund land banks through a competitive application process. The funds came from New York’s cut of a settlement between 49 states and the country’s five largest mortgage lenders, after a federal investigation found the lenders routinely violated the law when signing foreclosure-related documents.

Eight land banks split that $13 million pot last year, with the largest shares going to Syracuse ($3 million), Rochester ($2.8 million), and Newburgh ($2.5 million). Broome County was one of two land banks that received only a capacity-building grant of $150,000.

The money became available to land banks in February. As of mid July, the Rochester Land Bank Corp. has acquired five properties and disposed of 20. As of early August, the Greater Syracuse Land Bank had possession of more than 300 properties, and had disposed of 43.

On the other end of the spectrum, the Suffolk County Land Bank, which was granted $675,000 last year, has acquired and disposed of no parcels as of early August. Most of its spending has been devoted to environmental assessments, and legal and accounting costs, according to its 2014-2015 budget.

The Broome County Land Bank has acquired one property, 50 Front St., which had been owned by the county via tax foreclosure since December 2012. The board has accepted a proposal by Newman Development Group to demolish the building and replace it with office space and more than 100 apartments.

Lessons of the past year

According to the application guidelines released by the attorney general’s office, land banks that put forward proposals focused on residential properties will be given funding preference. That level of specificity was missing from last year’s guidelines. The Broome land bank’s $5.2 million application in 2013 focused on rejuvenating four large commercial properties.

“Last year it was so new, and certainly land banking in general was new to the state,” Duncan said. “We’ve developed a more focused strategy on looking at key neighborhoods, high-need neighborhoods, transitional neighborhoods, so this round of funds will enable us to have a broader impact.”

Sara Toering, general counsel for the Washington, D.C.-based Center for Community Progress, a nonprofit that works to assist policymakers and communities fighting vacancy and blight, said land banks have evolved to become more responsive to community needs.

“There is no one kind of property most suited to being addressed by a land bank,” she said. “It depends on the needs in each local community. Some land banks might have a focus entirely on residential, single-family housing stock. Others might focus on commercial properties because those are the parcels causing the biggest harm in their community.”

For now, the land bank is preparing its application, Duncan said, which involves identifying concentrations of vacant and foreclosed properties, and working with the county’s municipalities to identify places where the land bank could be an effective tool.

One such area is Binghamton’s northside, which the city has made a priority, with the recent announcement of plans to bring a grocery into the former Big Lots site on State Street.

“We see potential for additional [northside] demolitions that would open up new parcels related to affordable housing,” Duncan said. “We’re also looking at whether there are properties we can rehab and put out as affordable housing units. That area has been outlined by the city and through our board as an area that would make good sense to put some dollars into.”

Broome County Executive Debbie Preston said the land bank has taken positive steps in the past year to benefit the county and taxpayers.

“We applaud the BCLBC’s efforts in removing blight, enhancing our neighborhoods and helping to restore our tax base, and look forward to continuing our partnership in the future,” she said.